What is the reason for the current sluggish market?
1. The market value of BTC is $1.2 trillion. If you want to push the price of BTC from $57,000 to $74,000 (a new high), you need to inject $280 billion. Where does so much money come from? It is definitely not realistic to rely solely on retail investors.
2. Volume Since April 2023, the volume has been low. Volume = capital inflow = liquidity
3. Liquidity Where can we get liquidity? - Treasury repurchase - interest rate cut - Other Treasury repurchase will provide $2 billion of liquidity to the market every week. Interest rate cuts are expected this year. But there may be a delay due to the election
4. Sentiment Investors are bearish now. - Miners are selling - Mt. Gox news - German government sells We need to wait for FUD to clear, or wait for catalysts.
So all we can do now is wait for time to come
